How do Lay‐off Costs Affect Employment?
分析裁员成本对就业的正负效应，解释不同理论模型（如搜索模型、匹配模型）得出矛盾结论的原因，对研究劳动市场政策的学者有参考价值。
General equilibrium analyses of layoff costs have had mixed messages on the implications\nfor employment. This paper brings out the economic forces at work and explains the\ndisparate results. Specifically, we show that positive employment effects of layoff costs come\nthrough reducing labor reallocation, whereas negative effects come through reducing the\nprivate return to work due to those layoff costs and the associated inefficient allocation of\nlabor. Additional adverse employment effects can arise through an increase in the effective\nbargaining strength of workers. These forces explain why layoff costs tend to increase\nemployment in search models while the opposite is true in models with employment lotteries.\nIn matching models, we show that the employment effects depend critically on how layoff\ncosts are assumed to enter the bargaining process.